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In the name of Allah,The Merciful,

The Very Merciful

C E O ' s M E s s a g EH E a D O F F I C E

Emirates Islamic Bank(Public Joint stock Company)

Head Office3rd Floor, Building 16,Dubai Health Care City, DubaiTel.: +97 1 4 3160336Fax: +97 1 4 3582659P.O. Box: 6564, Dubai, United arab Emiratesemiratesislamic.ae

Consolidated Financial StatementsAs at 31 December 2016

His Highness Sheikh Khalifa Bin Zayed Al NahyanPresident of the United arab Emirates

His Highness Sheikh Mohammed Bin Rashid Al MaktoumVice President and Prime Minister

of the United arab Emirates and Ruler of Dubai

C O n T E n T s

Chairman’s Message 15

CEO’s Message 19

Corporate Social Responsibility 23

List of District Branches 26

List of Offsite ATMs 28

We seek out and try new things

for growth

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INNOVATION

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To be the leading provider of high standard Shari’a-compliant innovative financial products, quality service and superior value for

our customers, shareholders, employees and the community.

OUR VISION

Providing innovative and high standard financial products and services governed by Islamic Shari’a provision to enrich the society.

OUR MISSION

C H a I R M a n ´ s M E s s a g E

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Hesham Abdulla Al QassimChairman of Emirates Islamic

Foresight and planning are crucial to economic success, and the United arab Emirates (UaE) has clearly set an example for other nations to follow. UaE’s economic diversification policies, under the direction of our wise leadership, have enabled the country to record continued growth and position itself as one of the best performing economies across the region. Emirates Islamic is proud to partner the nation in this journey of growth, reporting positive financial results for 2016.

Despite global and regional economic challenges, Emirates Islamic reported robust growth, with a year on year increase in total income. The Bank continued to deliver on its commitment of a customer-first experience, resulting in a 5 per cent increase in deposits and a greater demand for our product and service offerings with total assets increasing by 11 per cent. Cost control measures taken have resulted in a total costs decrease over the last three quarters of 2016.

Emirates Islamic has always attracted strong interest from international and local investors. Our record breaking Us$ 750 million 5-year sukuk in May was three times oversubscribed and was followed by an equally successful tap issuance of Us$ 250 million in august. The Bank also successfully completed a Rights issue for aED 1.5 billion, providing solid capitalization to support our growth over the coming years.

With a stronger balance sheet and a focused medium term strategy, we aim to cement our position as a leader in the nation’s Islamic banking sector. We have noted genuine growth in demand for Islamic banking in the country with increasing awareness about the ethical nature of shari’a-compliant products. Emirates Islamic will continue to lead the way with a single-minded focus on innovation in the development of products and services and in delivering these across our various customer segments.

The UaE’s President His Highness sheikh Khalifa bin Zayed al nahyan has declared 2017 as the Year of giving. since our inception in 2004, Emirates Islamic has been at the forefront in providing support to the less fortunate in the community. Through the Emirates Islamic charity fund, we will continue our support to various humanitarian causes, and also to inspire and motivate other organisations and individuals to extend their support to worthy causes, which will eventually lead to a better and happier society.

I would like to thank our Board of Directors, the CEO and all Emirates Islamic employees for their contribution to the Bank’s performance in 2016. I am also grateful to our customers and shareholders for their support in our success and look forward to greater achievements in 2017.

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We strive to exceed customer expectations and

help them realise their dreams

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CUSTOMERFIRST

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C E O ' s M E s s a g E

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Jamal Bin GhalaitaCEO, Emirates Islamic

I am pleased to report the 2016 financial results for Emirates Islamic, on the back of our achievements in product and service innovation. In a significant year for the Bank, we demonstrated resilience in the face of challenging markets to achieve sound results and continue to play a leading role in the growth of Islamic banking in the UaE.

For the year ending 31 December, 2016, we reported a growth of 3% in total income (net of customers’ share of profit and distribution to sukuk holders) amounting to aED 2.5 billion compared to aED 2.4 billion in 2015. Financing and investing receivables grew by 6% to aED 36.3 billion and customer deposits grew by 5% to aED 41.1 billion. Our focused approach to improve our liabilities mix led to a significant increase in current account and savings account balances which now represent 67% of our total customer deposits. The Bank declared a net profit of aED 106 million for the year ended 31 December, 2016.

Investor confidence in Emirates Islamic remained high as Fitch affirmed our Long-Term Issuer Default Rating (LT IDR) of ‘a+’ with a stable Outlook, short-Term IDR (sT IDR) of 'F1', and a Viability Rating (VR) at 'bb-' for the second consecutive year. The rating agency also affirmed the Bank’s support Rating of '1'.

In 2016, we remained committed to driving innovation in Islamic banking, delivering industry-leading products and services across our retail and wholesale customer base. We also invested in state-of-the-art technology to launch our new core banking system, aimed at providing our customers with superior customer service and the best banking experience. Our thought leadership initiative, the IsLaMIC BanKIng InDEX by EMIRaTEs IsLaMIC also gained momentum this year showing a positive increase in penetration, perception, knowledge and intention of UaE consumers when it comes to shari’a compliant banking, indicating that public acceptance, awareness and demand for Islamic banking in the UaE is increasing. going forward, we remain focused on organic growth and increased market share by serving the evolving needs of our individual, commercial and corporate customers.

Our efforts to advance excellence in Islamic banking also saw us win industry accolades, including Innovator in Islamic Finance by global Finance magazine for EI trade, the world’s first of its kind shari’a-compliant online Trade Finance and supply Chain platform and Fastest growing Bank – UaE at the Banker Middle East Industry awards 2016.

In conclusion, I would like to express my sincere gratitude to our Chairman and Board of Directors who continue to lead and guide us on the path to further growth. I would also like to thank all the employees of Emirates Islamic for their hard work and contribution in the Bank’s performance in 2016, as we look ahead to another successful year, Insha’allah.

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Our vision is limitless and we

work together to make it a reality

AMBITION

C O R P O R a T E s O C I a L R E s P O n s I B I L I T Y

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at Emirates Islamic, we continuously work on supporting the community as we believe that in order to bring a sustainable change, communities must be economically and socially empowered. This commitment reflects our Corporate social Responsibility strategy and can be seen in the way we run our organization, the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our customers, and the impact we make in helping the local economy thrive.

In line with this belief and values, Emirates Islamic set up the ‘Emirates Islamic Charity Fund’ in 2016 to provide financial aid under several main areas, especially food, shelter, health, education and social welfare. In 2016 alone, Emirates Islamic has distributed over aED 50 million to various charitable causes including Emirates Red Crescent society, Dar al Ber society, Beit al Khair, Dubai Charity association, Fujairah Welfare assocation and more. In healthcare, Emirates Islamic has disbursed funds towards medical and rehabilitation equipment to government and privately run institutions including Ministry of Health, ajman Club for disabled and al Ihsan Medical Complex.

The Bank has also extended charitable aid to the police departments in Dubai, ajman, sharjah and Ras al Khaimah to improve prison facilities, upgrade the prisons’ pharmaceutical and medical equipment and help support prisoners to pay off their Diyya (financial compensation for victims’ families).

Moreover, our employees play an important part in implementing our Corporate social Responsibility strategy by devoting their time, knowledge and experience to charitable institutions and organizations. Emirates Islamic has set up an optional “Monthly automatic salary Deduction” programme

whereby employees can choose to dedicate any amount they want for a noble cause. The Bank collaborated with Beit al Khair to launch “EI Charity Car”, with employees helping in the distribution of food boxes to the less fortunate across the UaE. Over 500 Emirates Islamic employees also participated in a number of events including a large response to a blood donation drive, visits to Dubai autism Centre, Dubai Hospital, Latifa Hospital Thalassemia Centre, and many more.

Innovation was also part of Emirates Islamic’s 2016 Corporate social Responsibility. During Ramadan, the Bank launched the unique “Bring Happiness” campaign on its social media, aimed to connect members of the community

in need with those who can offer their support - the initiative was launched to coincide with Zayed Humanitarian Work Day, and honor the memory of sheikh Zayed bin sultan al nahyan, the founding father of the United arab Emirates. During the same period, Emirates Islamic announced a collaboration with Careem, the region’s leading chauffeur-driven car booking service, to provide complimentary rides to the mosque during the holy month of Ramadan.

Emirates Islamic also partnered with a number of organizations to promote fitness and a healthy lifestyle for the nation’s youth and introduced the ‘Emirates Islamic national school League Football’ – an annual interschool football league championship, that witnessed over 250 games and over 90 schools participate.

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Emirates Islamic Bank (PJSC)

LiSt OF DiStriCt BrAnCHeS

Branch Name Branch Location P. O. Box Branch Telephone Number

Abu Dhabi & Al Ain

Abu Dhabi Main Branch Sheikh Rashid Bin Saeed Al Maktoum Street 46077 Abu Dhabi 02-4464000

Abu Dhabi Corniche Corniche Street, nearest landmark - Ministry of Energy 46077 Abu Dhabi 02-6160888

Abu Dhabi Mall Abu Dhabi Mall, ground floor, next to Yateem Optician 46077 Abu Dhabi 02-6145194

Al Ain Main Branch Jawazat Street, near Sheikha Salama Mosque 15095 Al Ain 03-7511159Al Ain Souq Oud Al Touba Street, nearest landmark - NBQ 15095 Al Ain 03-7511112

Al Khalidiya Street No.26, intersecting with Zayed 1st Street, Al Khalidiya

108330 Abu Dhabi 02-6134710

Al Mutaradh Arabian Centre, Show Rooms No. 14, 15 & 16, Al Mutaradh Area, Al Ain 15095 Al Ain 03-7559840

Al Wahda Tower Unit G-3, Ground Floor, Al Wahda City 1, Commercial Tower, Hazaa Bin Zayed Street

46077 Abu Dhabi 02-6134713

Boutik Mall Sanaiyya - Khalid Ibn Sultan Street. Nearest landmark: Next to Etisalat - Beside LuLu

15095Al Ain 03-7034590

Khalifa City Villa No. 104, Sector SE-02, Khalifa City 'A' 46077 Abu Dhabi 02-6134711

Tourist Club Al Zarooni Building, Al Meena Street 10 46077 Abu Dhabi 02-6448820

Dubai - Bur DubaiAl Barsha Mall Al Barsha Mall, Barsha 6564 Dubai 04-3733211Al Diyafah Diyafa Street, opp. Dune Centre, Satwa 6564 Dubai 04-3733205

Al Khaleej Centre Al Khaleej Centre, Al Mankhool Road, next to Choithram, opp. Ramada Hotel 6564 Dubai 04-3550993

Al Mina Road Al Mina Road, Bur Dubai, Al Hudaiba 6564 Dubai 04-6093802

Bur Dubai Bank Street, next to Sun & Sand Sports Shop, Atrium Centre 6564 Dubai 04-3597888

Dragon Mart Dragon Mart Complex II - Dubai – Hatta Road, International City, Ground Floor – Zone GB 6564 Dubai 04-2803846

Dubai Health Care City Building No.16, ground floor, Dubai Health Care City 6564 Dubai 04-3834726Dubai Investment Park Dubai Investment Park Building 6564 Dubai 04-8855005Dubai Mall Dubai Mall, ground floor 6564 Dubai 04-3828010Dubai Silicon Oasis SIT Tower, ground floor, Dubai Silicon Oasis 6564 Dubai 04-3733054

Dubai Souq Al Souq Al Kabeer Area, Al Falah Street. Toronto Building, Bur Dubai 6564 Dubai 04-3192200

DWC Al Maktoum Airport Pay Office & FX Counter DWC Al Maktoum Airport, Departure Hall 6564 Dubai 04-8879443

Oud Metha Eleganza Apartments, Showroom No. 2 & 3 6564 Dubai 04-3733208Port Rashid Pay Office & FX Counter New Cruise Terminal, Zone 4, Ground floor 6564 Dubai 04-3597888

Umm Suqeim Villa A, Jumeirah Beach Road, near Jumeirah Beach Park, Umm Suqeim 6564 Dubai 04-3733209

Dubai - Deira

Al Garhoud Sunshine Building, next to Al Tayer Showroom, Garhoud 6564 Dubai 04-2822454

Al Mamzar Arabila Building, ground level, next to Grand Service Station 6564 Dubai 04-2622444

Al Mizher Aswaq Centre, near Al Mizhar Mall, Al Mizhar 1 6564 Dubai 04-2845799

Al Riqqa Omar Bin Al Khattab Street, near Ibis Hotel, Riqqa, Deira 6564 Dubai 04-2248442

Al Twar Dubai Municipality Building, ground level, opp Al Twar Centre 6564 Dubai 04-7023880

Al Twar Centre Al Nahda Road, near Al Twar Centre 6564 Dubai 04-2575983

Baniyas Baniyas Road, Al Sabkha Area, Al Sabkha Building 6564 Dubai 04-2023900

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Emirates Islamic Bank (PJSC)

LiSt OF DiStriCt BrAnCHeS (COntinueD)

Dubai - Deira (continued)

Business Village Business Village Building, Block A, ground level, next to Clock Tower, Deira 6564 Dubai 04-2367878

Dubai Fesitval City Dubai Festival Centre, opp Ikea, next to Hyper Panda, Level 1 6564 Dubai 04-3733201

Hamriya Souq Shop no. 007, Central Al Hamriya Market Building, Hor Al Anz East, near Union Coop, Abu Hail Road 6564 Dubai 04-3733504

Land Department Dubai Land Dept Building, ground level, Baniyas Street, opp Dubai Chamber of Commerce 6564 Dubai 04-2215301/

04-2212321

Main Branch Al Gurg Tower 2, Riggat Al Buteen, near Hilton Creeek Hotel 6564 Dubai 04-2131660

Mirdif City Centre Level 1, Mirdif City Centre 6564 Dubai 04-3733055

Nad Al Hamar Bel Rumaitha Club Building, Showroooms no. S-8 & S-9, Al Rebat Street 6564 Dubai 04-2845999

Dubai - New Dubai

Al Quoz Khalifa Bin Dismal Building, Show Room no. 1, Al Quoz 3 Area 6564 Dubai 04-3809952

Convention Centre World Trade Centre, Exhibition Hall 1 6564 Dubai 04-3830020

Jebel Ali Banking Complex, Jafza Main Gate, Jebel Ali 6564 Dubai 04-8811133

Jebel Ali Jafza Gate No.4, Jafza 16, Jebel Ali 6564 Dubai 04-8872555Jumeirah Beach Residence Amwaj 3 6564 Dubai 04-4233777

Jumeirah Lakes Towers Almas Tower, ground floor 6564 Dubai 04-3733225

Media City Business Central Towers, Showroom No.16, Dubai Media City, Sheikh Zayed Road 6564 Dubai 04-4380200

Sheikh Zayed Road Al Wasl Tower, Showroom 2 6564 Dubai 04-3312020

Sheikh Zayed Road 2 Al Kharbash Building 6564 Dubai 04-3438882/ 04-3439192

Sharjah & Northern Emirates

Ajman Sheikh Khalifa Bin Zayed Road 6688 Ajman 06-5064012

Al Nadiyah Ali Abdulla Al Nuaimi Building, Showroom No. 2, Al Nadiyah 5198 Ras Al Khaimah 07-2359482

Fujairah Near Choithram Supermarket, Sheikh Hamad Bin Abdulla Street 1472 Fujairah 09-2235553

Halawan Wasit Street, Sheikh Ismail Building 67621 Sharjah 06-5064009

Khorfakkan Corniche Street 18969 Khorfakkan 09-2371122

Mega Mall Mega Mall, ground floor 5169 Sharjah 06-5064022

Muwaileh Dr. Faisal Al Qasimi Building, Showrooms No. 6 & 7, Maleeha Street, near National Paints Industrial Area no. 15 5169 Sharjah 06-5358855

Nasseriya My City Center, ground floor, Shop No. G012, Nasseriya 67622 Sharjah 06-5064018

Qasimiyah Al Otaiba Building, King Abdul Aziz Road, Sharjah 67622 Sharjah 06-5720002

Ras Al Khaimah Emirates Islamic Bank Tower, ground floor, Al Muntaser Street, Al Nakheel Area

5198 Ras Al Khaimah 07-2260044

Sahara Centre Al Nahda Street, Sahara Centre, Basement, Unit No. B2 + B3 5169 Sharjah 06-5255532

Sharjah Al Bourj Avenue, Al Arooba Bank Street, near Rolla Square 5169 Sharjah 06-5064015

Sharjah Corniche Ground Floor, EIB Tower, Buheira Corniche, Al Majaz Area 5169 Sharjah 06-5064008

Sharjah Court Pay Office Al Meena Street 5169 Sharjah 06-5282248

Sharjah Crystal Plaza Crystal Plaza Tower, Sharjah Buhairah Corniche Road 60666 Sharjah 06-5064001

Umm Al Quwain Near Umm Al Quwain Broadcasting Station, King Faisal Road

315 Umm Al Quwain 06-5064020

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Emirates Islamic Bank (PJSC)

LiSt OF OFFSite AtMS

Abu Dhabi Dubai (Continues)Al Raha Mall Dubai Taxi ATM

Awqaf Abu Dhabi Dubai World Central

Capital Mall Emaar Boulevard

Carrefour, Abu Dhabi Mall Emaar Business Park

Deerfields Mall Emirates Living, The Lakes

Khalidiyah Mall Etihad Mall

The Galleria Mall Golden Mile

Yas Mall Hyatt Regency Dubai Creek Heights

Ajman Ibn Battuta Mall

Ajman Police Karama Centre

City Center, Ajman Lulu Hypermarket, Al Qusais

Union Coop, Ajman Mall of Emirates, near Home Center

Al Ain Mall of the Emirates, Metro link

Al Ain Mall Marina Mall

Al Jimi Mall Mega Mart, Al Qusais

Bawadi Mall, near Carrefour Meiaisam City Centre

Bawadi Mall, near Style Studio Mirdiff City Centre

Hili Mall My City Centre, Al Barsha

Dubai Nawaes Al Madina - Al Nahda

Al Ahli Driving school RITAJ, Dubai Investment Real Estate Company

Al Bustan Center Saudi German Hospital

Al Ghurair Center Sheikh Ahmed Mosque

Al Mulla Plaza Shindagha Carrefour

American Hospital, Oud Metha Sky Gardens DIFC

Aswaaq Supermarket, Umm Sequim Souk Al Wasl

Bin Sougat Center, Airport Road The Beach, JBR

City Walk 2 Union Coop, Jumeirah

Deira City Center, Etisalat Union Coop, Karama

Deira City Center, near New Look Union Coop, Rashidya

Dubai Airport Terminal 1 Union Co-operative - Al Hamriya

Dubai Airport Terminal 2 Union Co-operative - Al Twar

Dubai Airport Terminal 3 Union Co-operative Al Wasl

Dubai Cruise Port and Customs Union Co-operative - Umm Suqeim

Dubai Driving Centre Union Co-operative- Al Aweer

Dubai Health Care City, Building 16 FujairahDubai Immigration Fujairah Drive Through (outside the Branch)

Dubai Mall, Atrium Souq Khalifa Khamis Matar Al Kaabi

Dubai Mall, Food court Ras Al KhaimahDubai Mall, Ice Rink Al Murjan Resort

Dubai Mall, Kidzania RAK Municipality

Dubai Mall, near Costa Café SharjahDubai Marina Mall Al Saqr Business Centre

Dubai Marina Walk Ansar Mall

Dubai Taxi, Jebel Ali Mega Mall

Dubai Wholesale Plaza Rolla Mall

Dubai Women’s College Sahara Centre

Dubai Municipality, Al Manara Centre Offsite Sharjah International Airport

Dubai Police Head Quarters Sharjah Pay Office

Dubai Port and Customs

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